Las Vegas City Commission Minutes, March 1, 1922 to May 10, 1929, lvc000002-94

For bonds same as above except with 5 1/2% interest 977.20 for each 1000.00 bond. Whereupon, after due consideration, on motion of Commissioner Anderson, seconded by Commissioner Elwell and unanimously carried, the following resolution was adopted: WHEREAS, pursuant to and instrict compliance with the provisions and authority of the Constitution and laws of the State of Nevada, including the provisions of Chapter 74 of the Laws of 1923 of the State of Nevada, being an Act of the Senate and Assembly of the State of Nevada, entitled: "An Act authorizing the Board of City Commissioners of the City of Las Vegas, County of Clark, to issue bonds to provide for the construction of a highway through said City of Las Vegas to connect with Route 6 of the State Highway System of the State of Nevada, and providing for the ratification thereof by special pr general election before the issuance of any such bonds," approved March 5, 1923, the City of Las Vegas was authorized to issue its bonds in a sum not to exceed $50,000 for the purposes of constructing a highway through the City of Las Vegas to connect with Route 6 of the State Highway System of the State of Nevada; and WHEREAS, pursuant to each of the requirements of said Act, and particularly with the requirements of Secs. 2, 3, 4 and 5 of said Chapter 74 of the laws of 1923 of the State of Nevada, the question of the issuance of highway bonds of the City of Las Vegas in the amount of Fifty Thousand Dollars ($50,000) was submitted to the qualified electors of the City of Las Vegas, in the County of Clark, State of Nevada, at a general city election held in said City of Las Vegas on the 8th day of May, 1923, notice of which election having been first duly given strictly as provided by law, and at which election more than a majority of the votes cast were in favor of the issuance of said bonds, and the result of the vote upon said question of the issuance of said bonds having been duly certified to this Board by the election boards conducting said election and the result of the vote on said question of the issuance of said bonds having been by this Board at a meeting duly and regularly held on the 16th day of May, 1923, declared in the manner and form and at the same time as other returns of said general city election were canvassed and proclaimed; and WHEREAS, it appears to this Board that the qualified electors of said City of Las Vegas have authorized the issuance of highway bonds of the City of Las Vegas in the amount of Fifty Thousand Dollars ($50,000); and WHEREAS, it appears to this Board that the issuance of not to exceed Fifty Thousand Dollars ($50,000) of said highway bonds have been authorized by said Act of the Legislature of the State of Nevada, and such issuance ratified by the vote of the qualified electors of the City of Las Vegas at a general city election, hold as aforesaid; and WHEREAS, the Board of Commissioners of the City of Las Vegas, deems it advisable for the best interests of the City of Las Vegas that it offer for sale at this time Las Vegas Highway Bonds in the sum of Thirty Thousand Dollars ($30,000) of said authorized issue of Fifty Thousand Dollars ($50,000) of said bonds; and said Board, having received several offers, does after due consideration, approved the bid as submitted by the State of Nevada, said bid, in the judgment of the Board, being the highest and best bid submitted to said Board, NOW, THEREFORE, BE IT RESOLVED that the Board of City Commissioners of the City of Las Vegas, Clark County, Nevada, does hereby accept the bid of the State of Nevada of $31,424.40 and accrued interest, as is more fully set forth in their bid hereinabove referred to, said bid being in excess of par and accrued interest, and BE IT FURTHER RESOLVED AND ORDERED by the Board of City Commissioners of the City of Las Vegas, Clark County, Nevada, as follows: Section 1: That for the purpose of providing funds to be used in aiding in the construction of a highway through said City of Las Vegas to connect with Route 6 of the State Highway system of the State of Nevada,, there shall be executed, issued and delivered to the State of Nevada, the lawful purchaser of said bonds in the principal aggregate sum of